Read more about Barometers trade in range; breadth remains positive on Business Standard. Benchmark indices traded in a range during early afternoon trade. At 12:20 IST, the barometer index, the S&P BSE Sensex, surged 561.32 points or 1.09% at 51,105.62. The Nifty 50 index soared 145.40 points or 0.96% at 15,308.70.
Will Markets Respond Well to Budget 2021 After Losing Almost Rs 10,000 cr Last Week?
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Ahead of Union Budget 201, the market witnessed continuous selling throughout the truncated week ended January 29 amid volatility due to monthly expiry, FII selling, and weak global markets. Meanwhile, market participants also booked profit ahead of the Budget to be presented later in the day.
Last week, BSE Sensex slipped 2,592.77 points or 5.3 percent to end at 46,285.77 and while the Nifty50 fell 737.3 points or 5 percent to finish at 13,634.60 levels.
The BSE Large-cap Index slipped 5 percent dragged by the Piramal Enterprises, Maruti Suzuki India, Tata Motors, and Dr. Reddy’s Laboratories, while Grasim Industries, Axis Bank, Cipla, and Sun Pharmaceutical Industries ended with marginal gains.
The Nifty futures on Singapore Exchange traded 42 points higher at 13,763 in Monday s morning session, indicating a positive start for benchmark indices. Here are the top stocks to track in today s session:
Budget-related stocks: Stocks of infrastructure, construction, housing finance companies, along with PSU stocks, financials, healthcare and power and energy-related stocks could remain in focus today.
Tata Motors: The automaker on Friday reported a 67.52 per cent rise YoY in its consolidated net profit to Rs 2,941.48 crore for the third quarter ended December 31, aided by pent-up demand amid steady recovery in the economy.
Tech Mahindra: The company reported a 14.3 per cent YoY jump in its December quarter net profit at Rs 1,309.8 crore driven largely by improving profit margins while the revenues remained stable.
Market falls 5% on profit booking ahead of Budget 2021
On the sectoral front, Nifty IT, Auto and Energy lost more than 6 percent each and Infra sector lost 5 percent. January 30, 2021 / 09:04 AM IST Market witnessed continuous selling throughout the truncated week ended January 29 amid volatility due to monthly expiry, FII selling and weak global markets. Meanwhile, market participants also booked profit ahead of the Union Budget to be presented on February 1. Last week, BSE Sensex slipped 2,592.77 points or 5.3 percent to end at 46,285.77 and while the Nifty50 fell 737.3 points or 5 percent to finish at 13,634.60 levels. The BSE Large-cap Index slipped 5 percent dragged by the Piramal Enterprises, Maruti Suzuki India, Reliance Industries, Tata Motors and Dr Reddy’s Laboratories, while Grasim Industries, Axis Bank, Cipla and Sun Pharmaceutical Industries ended with marginal gains. (Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Medi